There Will Be Dancing In The Streets: Summers Quits

Larry Summers, Obama’s chief economic adviser, is going back to Harvard by the end of the year. While I don’t wish him ill, I am happy he is leaving. He was the Keynesian kingpin in the Obama Administration and shaped much of the destructive policies that have thwarted economic recovery. The son of econ professors and nephew of Neo-Keynesian-in-Chief Paul Samuelson, he and the country need a rest. I have been rather merciless to him, so there is a bit of schadenfreude at his departure since I’ll be losing a favorite target.

John Maynard Summers

Don’t worry about Larry. You can rest assured that he’ll find some lucrative post at a Goldman or BlackRock and make millions trading on his insider connections. You know, the Wall Street-Washington Economic Complex’s revolving door.

Larry, shut the door behind you.

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6 comments to There Will Be Dancing In The Streets: Summers Quits

  • Jim

    Jeff, the law of unintended consequences may come back to bite you. This reminds me of a time when my boss got canned. The glee lasted about 10 seconds, until the realization of who was next in line began to sink in. And it wasn’t someone with anywhere near the competence of the recently departed. Although we momentarily delight in this news, the President’s track record of hiring from the uber-left pool is frightening.

  • Bearster

    I agree. If Obama doesn’t have any more Keynesians, maybe he will turn to an outright Marxist. Or perhaps a Muslim to bring sharia-compliant finance to the US…

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  • Matt H

    I know you’re joking, but putting “Obama” and “muslim” in the same comment shoves a good point into a place you can’t pull it out of.

    Unfortunately, the world will never run out of Keynesians or Marxists or power mongers of any kind. If you want to screw up hard enough, there are friends to be made on the way down. One would hope that a big enough failure a president would be forced to turn their mind in another direction, but it’s not going to happen. Presidents are rewarded for “staying the course” even if that course is disaster, e.g. FDR, Bush… whomever you want. Reconsidering your course of action as a president is penalized so harshly it is almost never done.

    If this says anything at all, it’s to limit the power of government.